Written question asked by Lord McNicol of West Kilbride (Labour) on Wednesday, 7 December 2022, in the House of Lords. It was due for an answer on Wednesday, 21 December 2022. It was answered by Lord Johnson of Lainston (Conservative) on Wednesday, 21 December 2022 on behalf of the Department for International Trade.
Trade Agreements: India
- Question
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To ask His Majesty's Government, further to their policy paper UK-India free trade agreement: the UK’s strategic approach, published on 13 January, to what extent they consider the long-run estimates within the document applicable to the UK in the first 15 years of the trade deal being in effect.
- Answer
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The Computable General Equilibrium (CGE) model used to estimate these benefits produces long run results: although not explicitly modelled, this is typically assumed to refer to a period of around 15 years after implementation. Because the model used is static, all changes resulting from the agreement are incorporated at once and therefore it does not capture short run impacts.
India is projected to be the world’s third largest economy by 2050 and as India’s middle class grows to nearly a quarter of a billion middle class consumers, greater access to this market is expected to benefit UK firms.
Secondary information
- Type
- Written question
- Reference
- HL4102
- Session
- 2022-23
- Related items
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Deposited Paper DEP2022-0038
Tuesday, 11 January 2022
Deposited papers
House of Lords
House of Commons
- Grouped for answer
- Yes
- Subjects
- India Trade agreements
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2022-12-21 17:28:03 +0000
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/lords/2022-23/HL4102
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